Luanda: Over the last three years, the World Bank has disbursed at least 724 million U.S. dollars insured by the African Trade and Investment Development Insurance (ATIDI) to expand and improve the water supply in the Angolan capital, Luanda, as well as to construct roads throughout the country. The figures were disclosed on Tuesday in Luanda by ATIDI representative Annabelle Buzingo during the launch of the institution's 25th annual general meeting, which will take place from June 18 to 21 in Luanda.
According to Angola Press News Agency, most of the funding was used to implement the 'Bita Project,' for the supply of water to two million people in Luanda. Buzingo said the goal is to help Angola reach one billion US dollars in financing in the short term, considering the many investment opportunities in the country. She said ATIDI will intensify dialogue with commercial banks operating in Angola to promote financing for small and medium-sized enterprises, fostering employment and economic and social growth.
Almeida Fernandes, the head of the Policy and Multilateral Affairs section of Angola's Finance Ministry, recalled that Angola is a member of ATIDI with a 3 percent share of the institution. He said that the General Assembly in Angola is an opportunity for small and medium-sized enterprises to learn about the financial risk insurance portfolio available in Africa.
The event will bring together ATIDI's strategic partners, investors, and officials from Angola and other African countries. Together, they will reflect on the organization's performance, deliberate on key priorities, and develop a shared vision to strengthen trade and investment in Africa.
